Help! Storage Advice for new server

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I have been running Plex for a few years now, well, really ever since my original modded Xbox died and I needed a new solution… During COVID I have been helping my family by providing Plex content. Sometimes I have up to 8 family members streaming at once! Currently I am running Plex on my home PC: HP Z620 - 8 cores, 16GB of RAM

I recently acquired an older 1U Dell Poweredge R620. I want to offload all of my Plex traffic to this new server. I will be running ESXi with a Windows VM for Plex. I will also be running several other VMs for network controller, adblock, etc.

I want to add external storage for Plex and cannot decide between NAS or external SAS. All of the forum topics are related to running Plex from the NAS and I don’t need that. I just want an affordable storage solution that I can access from the Plex VM that can support up to 8 x 720p streams at once. I need about 20+TB of storage right now but hope to expand to 30+ sometime in 2021.

My question:
What is an affordable storage solution that can support multiple 720 - 1080 - 4k streams via an external connection to my refurb server?

Any help is greatly appreciated, I have been out of the hardware game for years and my brain hurts from trying to find the best solution…

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